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4 min read
Keeping up with Changing Compliance Requirements
There were a few important alerts announced this month that change federal compliance for human resource management that may affect your company. We...
1 min read
In 2017 the IRS is decreasing the allowable deduction for mileage. The new deduction rates will apply to miles driven for business travel, as well as, travel for medical or charitable purposes. The IRS determines the standard mileage rate deduction based on a study conducted annually. The study considers both fixed and variable costs. Although both fixed and variable costs are used to determine mileage rate deductions for business travel, medical and charitable travel are based solely on variable costs.
New Standard Mileage Rates Effective January 1, 2017
- 53.5 cents per mile for businesses (down from 54 cents in 2016)
- 17 cents per mile driven for medical or moving purposes (down from 19 cents in 2016)
- 14 cents per mile driven in service of charitable organizations
Tax payers, of course, always have the option of calculating the actual costs of using their vehicles. If you are planning to report actual expenses be sure to keep gas and maintenance receipts and carefully track the purpose for actual miles driven.
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5 min read
The Ins and Outs of Vacation for Exempt Employees
Summer is here and that means employees are making vacation plans. While your hourly employees, non-exempt from the Fair Labor Standards Act (FLSA),...
4 min read
New Year, New W-4?: What You Need to Know About the Redesigned 2020 Form W-4
By now, you’ve probably heard the IRS has released a redesigned version of form W-4 for 2020, also known as the Employee’s Withholding Certificate....